LAS VEGAS The 1,037-key Plaza Hotel & Casino, one of the largest hotels in Downtown Las Vegas, will be closing for a year to complete a top-to-bottom renovation.
Property owner Tamares Real Estate says it will invest “a substantial amount of money” into the property. The property will mostly close—save for its Firefly restaurant, some slot machines and its showroom—in about two months.
“The Plaza has been experiencing the same kind of operational difficulties as other casino hotels and many other businesses in Las Vegas,” says Tamares Chief Operating Officer Kenneth Landfield. “Despite the most difficult economic conditions in recent memory, however, we are extremely excited about the future of downtown Las Vegas and are committed to working through this process to the benefit of our employees, our customers and the city of Las Vegas.”
More than 400 employees have received pre-termination notices in accordance with federal law. Some of the workers could be hired at one of Tamares’ other Downtown properties, The Western and the 410-key Las Vegas Club Hotel & Casino.
Last month, veteran gaming executive Anthony Santo won a gaming license to operate The Plaza on behalf of Tamares, Las Vegas Journal-Review reports. Santo told regulators that Tamares was in negotiations for a US$20 million loan to be used for a Plaza renovation. He also said that the property would be renamed Union Plaza.
Tamares and Elad Properties are currently engaged in a lawsuit over the Plaza name. Elad, which owns the famous Plaza Hotel in New York City, aims to build a resort modeled after the New York property on the Las Vegas Strip.
The 39-year-old Plaza is located at the intersection of Main and Fremont streets at the western end of the Fremont Street Experience.
